Miami Bridge Contractor Settlement Sparks Suit Against Insurers

Units of major insurers—including W. R. Berkley Corp., Swiss Re, Berkshire Hathaway Inc., AXA SA, and Fairfax Financial Holdings Ltd.—were sued in a dispute over coverage for a contractor’s settlement tied to a bridge project in Miami.

The insurers breached their contractors’ protective professional indemnity policies by unreasonably withholding consent for a $42 million settlement between Archer Western – de Moya Joint Venture and its design subconsultants, the joint venture said in a complaint filed Tuesday in the US District Court for the Southern District of Florida.

The design subconsultants were negligent in failing to ...